Ms. Helene Bernier reports

SAVARIA CORPORATION ANNOUNCES $15.6 MILLION "BOUGHT DEAL" PRIVATE PLACEMENT FINANCING

Savaria Corp. has entered into an agreement with a syndicate of underwriters led by Cormark Securities Inc. and National Bank Financial Inc., and including Clarus Securities Inc., Laurentian Bank Securities Inc. and PI Financial Corp., pursuant to which the underwriters have agreed to purchase, on a bought-deal private placement basis, two million common shares of the company at a purchase price of $7.80 per share, for gross proceeds to the company of $15.6-million. The underwriters have also been granted an option, exercisable in whole or in part at any time prior to the closing date, to purchase for resale up to an additional 300,000 shares at the offering price, which would result in additional gross proceeds of $2.34-million.

The offering is scheduled to close on or about June 16, 2016, and is subject to certain conditions, including, but not limited to, the receipt of all necessary approvals, including the approval of the Toronto Stock Exchange and any applicable securities regulatory authorities. The underwriters have agreed to endeavour to arrange for substituted purchasers for the shares.

The net proceeds of the offering will be used for growth initiatives and for general corporate and working capital purposes.

We seek Safe Harbor.